{"id":294126,"date":"2017-02-13T20:50:42","date_gmt":"2017-02-13T20:50:42","guid":{"rendered":"http:\/\/citifmonline.com\/?p=294126"},"modified":"2017-02-13T20:50:42","modified_gmt":"2017-02-13T20:50:42","slug":"businesses-demand-cuts-in-new-import-levy","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2017\/02\/businesses-demand-cuts-in-new-import-levy\/","title":{"rendered":"Businesses demand cuts in new import levy"},"content":{"rendered":"<p>Businesses in the import and export trade are demanding a reduction in the new EXIM levy on imports.<\/p>\n<p>They argue that the development will increase the cost of operation and overburden final consumers.<\/p>\n<p>[contextly_sidebar id=&#8221;R3KsCIErWlF9SSfTUuJ3gR0OpUprjw2I&#8221;]\u201cAbsolutely the charge is very high; they could have still maintained the 0.5 percent usually been paid by importers\u2026We\u2019ve seen the goodwill that this government is showing and we are very hopeful,\u201d An Executive of the Technical Committee of the Ghana Institute of Freight Forwarders, John Mantey told <strong>Citi Business News<\/strong>.<\/p>\n<p>The Exim levy, which became effective on January 3<sup>rd<\/sup> 2017, replaced the initial EDAIF levy on imports.<\/p>\n<p>Under the new levy, importers will pay 0.75 percent of all cost, insurance and freight value at the ports.<\/p>\n<p>Proceeds will subsequently be allocated to the Ghana Exim Bank and the Ghana Export Promotion Agency.<\/p>\n<p>The institutions will be allocated ninety and ten percent respectively.<\/p>\n<p><strong>Customs defends EXIM levy<\/strong><\/p>\n<p>Despite the concerns by the various industry players, authorities of the Ghana Revenue Authority maintain the policy is in the interest of the state as it will increase the country\u2019s export trade business.<\/p>\n<p>The Assistant Commissioner for Imports and Exports at the Customs Division of the GRA, Seidu Yakubu explains that the move will deepen Ghana\u2019s competitiveness in the export and import trade.<\/p>\n<p>\u201cOnce the bank is established it will assist the importers and exporters in a wider perspective; it has been one of the challenges in international trade that we don\u2019t have the money or there&#8217;s no trust and nobody wants to do business with you so this is one of the banks that is created by government to support directly those who are into the export and import business.\u201d<\/p>\n<p>Concerning issues on the lack of adequate stakeholder engagements, Mr. Yakubu said,<\/p>\n<p>\u201cWhen the law came on, an Act of Parliament is public and everybody is supposed once it has been made and has come to pass as a law. Even though we try to always say ignorance of the law is not an excuse but we try to make the effort to make sure that the trading public is made aware.\u201d<\/p>\n<p>Meanwhile John Mantey tells <strong>Citi Business News<\/strong> his outfit will engage the new government on a possible reduction in the charges.<\/p>\n<p>\u201cAlready they\u2019ve shown their readiness to reduce some taxes and are still looking into some of the matters that we are talking about\u2026We will take these issues up and we hope that we come to an amicable solution\u2026.we want to reduce the cost of doing business for everybody and the government,\u201d he remarked.<\/p>\n<p>&#8211;<\/p>\n<p>By: Pius Amihere Eduku\/citibusinessnews.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Businesses in the import and export trade are demanding a reduction in the new EXIM levy on imports. They argue that the development will increase the cost of operation and overburden final consumers. [contextly_sidebar id=&#8221;R3KsCIErWlF9SSfTUuJ3gR0OpUprjw2I&#8221;]\u201cAbsolutely the charge is very high; they could have still maintained the 0.5 percent usually been paid by importers\u2026We\u2019ve seen the [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":42650,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,171,11,1166],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Businesses demand cuts in new import levy - Citi 97.3 FM - Relevant Radio. Always<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/citifmonline.com\/2017\/02\/businesses-demand-cuts-in-new-import-levy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Businesses demand cuts in new import levy - Citi 97.3 FM - Relevant Radio. Always\" \/>\n<meta property=\"og:description\" content=\"Businesses in the import and export trade are demanding a reduction in the new EXIM levy on imports. They argue that the development will increase the cost of operation and overburden final consumers. [contextly_sidebar id=&#8221;R3KsCIErWlF9SSfTUuJ3gR0OpUprjw2I&#8221;]\u201cAbsolutely the charge is very high; they could have still maintained the 0.5 percent usually been paid by importers\u2026We\u2019ve seen the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/citifmonline.com\/2017\/02\/businesses-demand-cuts-in-new-import-levy\/\" \/>\n<meta property=\"og:site_name\" content=\"Citi 97.3 FM - Relevant Radio. Always\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/citi97.3\" \/>\n<meta property=\"article:published_time\" content=\"2017-02-13T20:50:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/citifmonline.com\/wp-content\/uploads\/2014\/08\/tema-port-harbour1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"650\" \/>\n\t<meta property=\"og:image:height\" content=\"416\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Kojo Akoto Boateng\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@citi973\" \/>\n<meta name=\"twitter:site\" content=\"@citi973\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kojo Akoto Boateng\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/citifmonline.com\/2017\/02\/businesses-demand-cuts-in-new-import-levy\/\",\"url\":\"https:\/\/citifmonline.com\/2017\/02\/businesses-demand-cuts-in-new-import-levy\/\",\"name\":\"Businesses demand cuts in new import levy - Citi 97.3 FM - Relevant Radio. Always\",\"isPartOf\":{\"@id\":\"https:\/\/citifmonline.com\/#website\"},\"datePublished\":\"2017-02-13T20:50:42+00:00\",\"dateModified\":\"2017-02-13T20:50:42+00:00\",\"author\":{\"@id\":\"https:\/\/citifmonline.com\/#\/schema\/person\/1642ef473fe39bf0c4e2f2f252678eb1\"},\"breadcrumb\":{\"@id\":\"https:\/\/citifmonline.com\/2017\/02\/businesses-demand-cuts-in-new-import-levy\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/citifmonline.com\/2017\/02\/businesses-demand-cuts-in-new-import-levy\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/citifmonline.com\/2017\/02\/businesses-demand-cuts-in-new-import-levy\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/citifmonline.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Businesses demand cuts in new import levy\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/citifmonline.com\/#website\",\"url\":\"https:\/\/citifmonline.com\/\",\"name\":\"Citi 97.3 FM - Relevant Radio. Always\",\"description\":\"Ghana News | Ghana Politics | Ghana Soccer | Ghana Showbiz\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/citifmonline.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/citifmonline.com\/#\/schema\/person\/1642ef473fe39bf0c4e2f2f252678eb1\",\"name\":\"Kojo Akoto Boateng\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/citifmonline.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ba51f5385119e83762c67ecd6aa410ab?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ba51f5385119e83762c67ecd6aa410ab?s=96&d=mm&r=g\",\"caption\":\"Kojo Akoto Boateng\"},\"url\":\"https:\/\/citifmonline.com\/author\/kojo\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Businesses demand cuts in new import levy - Citi 97.3 FM - Relevant Radio. Always","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/citifmonline.com\/2017\/02\/businesses-demand-cuts-in-new-import-levy\/","og_locale":"en_US","og_type":"article","og_title":"Businesses demand cuts in new import levy - Citi 97.3 FM - Relevant Radio. Always","og_description":"Businesses in the import and export trade are demanding a reduction in the new EXIM levy on imports. They argue that the development will increase the cost of operation and overburden final consumers. [contextly_sidebar id=&#8221;R3KsCIErWlF9SSfTUuJ3gR0OpUprjw2I&#8221;]\u201cAbsolutely the charge is very high; they could have still maintained the 0.5 percent usually been paid by importers\u2026We\u2019ve seen the [&hellip;]","og_url":"https:\/\/citifmonline.com\/2017\/02\/businesses-demand-cuts-in-new-import-levy\/","og_site_name":"Citi 97.3 FM - Relevant Radio. Always","article_publisher":"https:\/\/www.facebook.com\/citi97.3","article_published_time":"2017-02-13T20:50:42+00:00","og_image":[{"width":650,"height":416,"url":"https:\/\/citifmonline.com\/wp-content\/uploads\/2014\/08\/tema-port-harbour1.jpg","type":"image\/jpeg"}],"author":"Kojo Akoto Boateng","twitter_card":"summary_large_image","twitter_creator":"@citi973","twitter_site":"@citi973","twitter_misc":{"Written by":"Kojo Akoto Boateng","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/citifmonline.com\/2017\/02\/businesses-demand-cuts-in-new-import-levy\/","url":"https:\/\/citifmonline.com\/2017\/02\/businesses-demand-cuts-in-new-import-levy\/","name":"Businesses demand cuts in new import levy - Citi 97.3 FM - Relevant Radio. Always","isPartOf":{"@id":"https:\/\/citifmonline.com\/#website"},"datePublished":"2017-02-13T20:50:42+00:00","dateModified":"2017-02-13T20:50:42+00:00","author":{"@id":"https:\/\/citifmonline.com\/#\/schema\/person\/1642ef473fe39bf0c4e2f2f252678eb1"},"breadcrumb":{"@id":"https:\/\/citifmonline.com\/2017\/02\/businesses-demand-cuts-in-new-import-levy\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/citifmonline.com\/2017\/02\/businesses-demand-cuts-in-new-import-levy\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/citifmonline.com\/2017\/02\/businesses-demand-cuts-in-new-import-levy\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/citifmonline.com\/"},{"@type":"ListItem","position":2,"name":"Businesses demand cuts in new import levy"}]},{"@type":"WebSite","@id":"https:\/\/citifmonline.com\/#website","url":"https:\/\/citifmonline.com\/","name":"Citi 97.3 FM - Relevant Radio. Always","description":"Ghana News | Ghana Politics | Ghana Soccer | Ghana Showbiz","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/citifmonline.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/citifmonline.com\/#\/schema\/person\/1642ef473fe39bf0c4e2f2f252678eb1","name":"Kojo Akoto Boateng","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/citifmonline.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/ba51f5385119e83762c67ecd6aa410ab?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ba51f5385119e83762c67ecd6aa410ab?s=96&d=mm&r=g","caption":"Kojo Akoto Boateng"},"url":"https:\/\/citifmonline.com\/author\/kojo\/"}]}},"_links":{"self":[{"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/posts\/294126"}],"collection":[{"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/comments?post=294126"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/posts\/294126\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/media\/42650"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/media?parent=294126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/categories?post=294126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/tags?post=294126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}